Fair Value (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value, Assets Measured on Recurring and Nonrecurring Basis

In addition, it includes guidance on identifying circumstances that indicate a transaction is not orderly. Under ASC 820, fair value measurements for items measured at fair value on a recurring and nonrecurring basis at December 31, 2015 and 2014 included:

			Quoted Prices in		Significant Other		Significant Other
			Active Markets for		Observable		Unobservable
	Fair Value		Identical Assets		Inputs		Inputs
(Dollars in thousands)	Measurements		Level 1		Level 2		Level 3
At December 31, 2015
Available for sale securities (1)	$	790,766	$	225	$	790,541	$	0
Loans held for sale (2)		23,998		0		23,998		0
Loans (3)		7,511		0		6,052		1,459
Other real estate owned (4)		7,039		0		598		6,441

At December 31, 2014
Available for sale securities (1)	$	741,375	$	3,899	$	737,476	$	0
Loans held for sale (2)		12,078		0		12,078		0
Loans (3)		10,409		0		8,324		2,085
Other real estate owned (4)		7,462		0		1,468		5,994

(1)

See Note D for further detail of fair value of individual investment categories.

(2)

Recurring fair value basis determined using observable market data.

(3)

See Note F. Nonrecurring fair value adjustments to loans identified as impaired reflect full or partial write-downs that are based on the loan’s observable market price or current appraised value of the collateral in accordance with ASC 310.

(4)

Fair value is measured on a nonrecurring basis in accordance with ASC 360.

Fair Value Measurements, Recurring and Nonrecurring

The carrying amount and fair value of the Company's other significant financial instruments that are not measured at fair value on a recurring basis in the balance sheet as of December 31 is as follows:

			Quoted Prices in		Significant Other		Significant Other
			Active Markets for		Observable		Unobservable
	Carrying		Identical Assets		Inputs		Inputs
(Dollars in thousands)	Amount		Level 1		Level 2		Level 3
At December 31, 2015
Financial Assets
Securities held to maturity (1)	$	203,525	$	0	$	202,813	$	0
Loans, net		2,129,691		0		0		2,147,024
Financial Liabilities
Deposits		2,844,387		0		0		2,843,800
Borrowings		50,000		0		51,788		0
Subordinated debt		69,961		0		52,785		0

At December 31, 2014
Financial Assets
Securities held to maturity (1)	$	207,904	$	0	$	208,788	$	0
Loans, net		1,794,405		0		0		1,814,746
Financial Liabilities
Deposits		2,416,534		0		0		2,417,355
Borrowings		50,000		0		52,735		0
Subordinated debt		64,583		0		53,861		0

(1) See Note D for further detail of recurring fair value basis of individual investment categories.

Schedule of contractual balance and gains or losses aggregate fair value

Interest income is recorded based on contractual terms of the loan in accordance with Company policy on loans held for investment. None of the loans are 90 days or more past due or on nonaccrual at December 31, 2015 and 2014, respectively.

	December 31,
(Dollars in thousands)	2015		2014
Aggregate fair value	$	23,998	$	12,078
Contractual balance		23,384		11,769
Gains (losses)		614		309